Latest news with #JB
CNA
a day ago
- Automotive
- CNA
Singapore vehicles entering Malaysia without VEP fined RM300 as enforcement begins
Dozens of drivers of Singapore-registered cars were fined today for entering Malaysia without a valid Vehicle Entry Permit. The VEP system came into effect at midnight and enforcement continued throughout the day. Drivers entering Malaysia without a VEP face a fine of RM300, or about S$90. Queues at VEP centres in JB have swelled, with waiting times of at least four hours. One centre will be open 24/7 for the rest of the month to help drivers.
Mint
2 days ago
- Business
- Mint
Will Torrent Pharma's big bet on JB Chemicals pay off?
Torrent Pharmaceuticals Ltd's acquisition of a controlling stake in JB Chemicals & Pharmaceuticals Ltd, the largest in the Indian pharma sector since 2015, is expected to bring significant cost synergies. It may also help expand its product portfolio across domestic formulations and the fast-growing contract development and manufacturing organisation (CDMO) segment. JB Pharma's consolidated revenue in FY25 stood at ₹3,900 crore, which is about one-third of Torrent's topline. While JB's Ebitda margin has improved by 390 basis points (bps) to 26.3% over FY22-25, it is 630 bps lower than Torrent's FY25 margin of 32.6% The acquisition will complement Torrent's product portfolio in the cardiac and gastro segments. 'Torrent Pharma gains cost synergies in the near term with potential revenue synergies in the long run," Nomura Global Market Research said in a report dated 29 June. Torrent will gain entry into a new therapy segment, ophthalmology, a relative niche opportunity with prospects of growing ahead of the broader market, Nomura added. JB's presence in the CDMO segment opens up the possibility for Torrent to expand its portfolio in this fast-growing segment. Its CDMO revenue has increased at a rapid pace, clocking 21% CAGR over the past five years. About 58% of the company's FY25 revenue was from domestic formulations, whereas international formulations and CDMO accounted for 29% and 11%, respectively. The deal involves the acquisition of the 46.4% stake held by Tau Investment Holdings, a subsidiary of global investment firm KKR, at a price of ₹1,600 per share. Torrent will also acquire a 2.8% stake held by certain employees, in addition to the mandatory 26% open offer, implying a potential total outgo of about ₹19,500 crore. Open offer The acquisition will be followed by a merger, fixed at a ratio of 51 Torrent shares for every 100 JB shares. The implied price, as per the swap ratio, stands at ₹1,713, against an open offer price of ₹1,639 apiece. Investors may not be too keen on the offer, which is evident from the 9% drop in JB's shares since the announcement. KKR purchased the stake in JB in March 2020 at ₹372.50 (the effective price after a share split), implying a return of 3.3x over a five-year period. Yet, the acquisition looks attractively priced for Torrent with an EV-to-Ebitda ratio of 26.4x for FY25, lower than Torrent's 31x. EV, or enterprise value, refers to a company's market capitalization plus net debt. Further, the EV-to-sales ratio of 7.2x is lower than 8.4x for Torrent's acquisition of Curatio Healthcare in September 2022. Torrent had a net debt-to-Ebitda ratio of 0.6x at FY25-end, which should help it mobilize debt for the acquisition. Yet, with almost ₹19,500 crore of potential outgo in an all-cash deal, this could stretch Torrent's near-term finances. Besides, the size of the acquisition at more than five times its previous largest deal completed in 2017 poses execution challenges. 'From a financial perspective, we estimate that with synergies, the merger would become PAT neutral by the end of FY28, assuming the open offer does not go through," JM Financial Institutional Securities Ltd said in a 30 June report. However, net profit could be impacted by 10% in FY28 if the maximum number of shareholders opt for the open offer, it said. Torrent's shares are down from the intra-day gain of over 4% after the announcement. The stock trades at about 47x FY26 earnings estimates, as per Bloomberg consensus. Notwithstanding the medium-term gains, the acquisition does bring uncertainty with regard to successful integration and generating synergies.
Sydney Morning Herald
3 days ago
- General
- Sydney Morning Herald
No one knew where my suburb was. Then one store changed everything
There is some dispute about the name of my suburb and its five siblings. Some say a cattle farmer who arrived in the area in the 1830s took the name from a property in Forfarshire, Scotland. Some say it derives from a Gaelic word for 'plenty'. Others point to evidence that it comes from an Aboriginal word for 'brackish water'. But you might say that my suburb finally found its way onto the map due to a hi-fi store. My family's journey here began as part of the wave of English and Irish migrants who settled in Melbourne's inner west after World War II. When their children – Boomers like me – came of age, many looked further west. Instead, we looked north, to Keilor East. Whatever the exact origins of the name, there are now six Keilor suburbs – Keilor, Keilor East, Keilor Downs, Keilor Park, Keilor Lodge and Keilor North. (Some say Kee-la, but it's Kee-law, Queen's English). Keilor and its village centre was, and still is, the bee's knees because of its location and hills. Wedged between the Maribyrnong Valley and the market gardens along the Maribyrnong River, it reeked of history with its old bridge and heritage buildings. Horseshoe Bend holds magnificent views over Brimbank Park, Keilor and beyond. We moved to Keilor East in 1972 before the birth of our first child; it was a promising area for young families, even if its undulating plains made it the poor relation to the village-like Keilor. The new residents of the area worked hard at factories across the industrial west and were proud of their backyard crops. The Yarraville and Williamstown that our family had left behind were mainly Anglo and the food bland – all meat and three veg – so it was a delight to be introduced to the flavours of Italian and Greek families who were only too keen to share their food and culture. I'd known no such thing as broccoli, and spaghetti came from a can of Heinz. Keilor East meant exposure to the homemade passata that was like a religion in March and April, following the tomato season. Tomatoes were plentiful as most of the houses were modest and built on quarter-acre blocks with lots of space for planting, unlike the castles on subdivided blocks that you find today. Hidden away between the Maribyrnong River, Steele Creek, and two freeways, Victorians at this time knew nothing about Keilor East. But that changed in 1974, when local man John Barbuto transplanted a hustle selling speakers and records from his garage to the nearby Centreway strip. That music store, with a name taken from Barbuto's initials, and handwritten price tags inspired by Barbuto's time working in local green grocers, was the original JB Hi-Fi. Perhaps Melburnians still didn't know anything else about Keilor East, but they knew how to get to the wildly popular electronics shop. From the recently extended Calder freeway, turn right, left, then right, and you'd arrive at Centreway, our shopping strip surrounding a small park. You couldn't miss JB and its yellow signs, which soon spread out across three shops. After growing into the massive chain it is today, the original Keilor East store closed in 2011, and is now a restaurant, a laundromat and a takeaway, with a massage studio next door.
The Age
3 days ago
- General
- The Age
No one knew where my suburb was. Then one store changed everything
There is some dispute about the name of my suburb and its five siblings. Some say a cattle farmer who arrived in the area in the 1830s took the name from a property in Forfarshire, Scotland. Some say it derives from a Gaelic word for 'plenty'. Others point to evidence that it comes from an Aboriginal word for 'brackish water'. But you might say that my suburb finally found its way onto the map due to a hi-fi store. My family's journey here began as part of the wave of English and Irish migrants who settled in Melbourne's inner west after World War II. When their children – Boomers like me – came of age, many looked further west. Instead, we looked north, to Keilor East. Whatever the exact origins of the name, there are now six Keilor suburbs – Keilor, Keilor East, Keilor Downs, Keilor Park, Keilor Lodge and Keilor North. (Some say Kee-la, but it's Kee-law, Queen's English). Keilor and its village centre was, and still is, the bee's knees because of its location and hills. Wedged between the Maribyrnong Valley and the market gardens along the Maribyrnong River, it reeked of history with its old bridge and heritage buildings. Horseshoe Bend holds magnificent views over Brimbank Park, Keilor and beyond. We moved to Keilor East in 1972 before the birth of our first child; it was a promising area for young families, even if its undulating plains made it the poor relation to the village-like Keilor. The new residents of the area worked hard at factories across the industrial west and were proud of their backyard crops. The Yarraville and Williamstown that our family had left behind were mainly Anglo and the food bland – all meat and three veg – so it was a delight to be introduced to the flavours of Italian and Greek families who were only too keen to share their food and culture. I'd known no such thing as broccoli, and spaghetti came from a can of Heinz. Keilor East meant exposure to the homemade passata that was like a religion in March and April, following the tomato season. Tomatoes were plentiful as most of the houses were modest and built on quarter-acre blocks with lots of space for planting, unlike the castles on subdivided blocks that you find today. Hidden away between the Maribyrnong River, Steele Creek, and two freeways, Victorians at this time knew nothing about Keilor East. But that changed in 1974, when local man John Barbuto transplanted a hustle selling speakers and records from his garage to the nearby Centreway strip. That music store, with a name taken from Barbuto's initials, and handwritten price tags inspired by Barbuto's time working in local green grocers, was the original JB Hi-Fi. Perhaps Melburnians still didn't know anything else about Keilor East, but they knew how to get to the wildly popular electronics shop. From the recently extended Calder freeway, turn right, left, then right, and you'd arrive at Centreway, our shopping strip surrounding a small park. You couldn't miss JB and its yellow signs, which soon spread out across three shops. After growing into the massive chain it is today, the original Keilor East store closed in 2011, and is now a restaurant, a laundromat and a takeaway, with a massage studio next door.
Dublin Live
3 days ago
- Business
- Dublin Live
Social welfare payment of €250 available to workers on top of wages
Part-time workers may not realise that they can claim an additional payment on top of their wages, provided they meet certain criteria. The Part-Time Job Incentive Scheme is designed to allow those receiving Jobseeker's Allowance (JA) to take up part-time work and receive a special weekly allowance in place of their jobseeker's payment. The scheme aims to serve as a stepping stone towards full-time employment. Here's all the information you need about the scheme and who can apply for it. Who is eligible for the Part-Time Job Incentive Scheme? You can participate in the PTJI Scheme if you get part-time work for less than 24 hours per week and immediately before that you were: On long-term Jobseeker's Allowance (JA) for at least 312 days. Days of unemployment on Jobseeker's Benefit (JB) or the Covid-19 Pandemic Unemployment Payment count towards the 312 days if you were getting JB immediately before you got Jobseeker's Allowance. Getting a weekly JA payment of at least €154.60 if you are single or €252.10 if you are getting an increase for a qualified adult. You must also undertake to remain on the scheme for 2 months. You can do more than one part-time job but the total hours worked must be less than 24. The part-time job you get must be likely to last at least 2 months and be insurable at PRSI Class A or J, reports RSVP Live. Initially, you can stay on the PTJI scheme for one year. This may be extended for a further period. While on the scheme, you must continue to look for full-time work. If you get full-time work but then lose it, and get another part-time job, you can return to your original Part-Time Job Incentive claim if you meet all the PTJI conditions. The Part-Time Job Incentive will only remain in payment for the duration that has not been used previously. How much can I claim on the scheme? Instead of your usual payment, you will get a weekly allowance of: €154.60 per week if you are single €252.10 per week if you are getting an increase for a qualified adult There are no increases in these rates for qualified children. The allowance is paid regardless of how much you earn in your job. The allowance is not taxable. However, your wages will be taxable in the usual way. How to apply Once you have secured the part-time job, you should contact your Intreo Centre or local Social Welfare Branch Office to apply for the PTJI scheme. You will be asked to complete the application form PTJI1 (pdf) and give details of your part-time employment. You can read more information on the application details here. Join our Dublin Live breaking news service on WhatsApp. Click this link to receive your daily dose of Dublin Live content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. If you're curious, you can read our Privacy Notice . For all the latest news from Dublin and surrounding areas visit our homepage .
